The Institutes CPCU-500 Actual Free Exam Questions & Community Discussion
Michael began his career in the insurance industry as a claims representative. He is an intelligent and hard- working individual with a goal of advancing his career within the industry. As his manager, which one of the following would you recommend that Michael do to help propel him to be a future insurance industry leader?
Correct Answer: D
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Company 1 sells Company 2 a piece of farm equipment. The sales contract specifies that Company 2 buys the equipment in an "as is" condition, with no promises made regarding the durability or performance of the equipment. This language in the warranty is known as
Correct Answer: D
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Risks that arise from property, liability, or personnel loss exposures and are generally the subject of insurance are known as
Correct Answer: C
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Sally recently went to a local nursery to purchase some plants for her yard. She was injured when she tripped over a piece of equipment that a salesperson had left in the aisle after demonstrating it for a customer. From the standpoint of the nursery, this is an example of which one of the following types of liability loss exposure?
Correct Answer: A
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Suzanne is a liability insurance underwriter for a large commercial insurer. She was unwilling to provide liability insurance for the manufacturer of self-driving vehicles because it did not have one of the major characteristics of an insurable risk. Which one of the following major characteristics of an insurable risk is the manufacturer missing?
Correct Answer: C
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Thomas is the commercial lines underwriter for Shelton Manufacturing. Critical thinking helped him suggest that the insured consider a blanket business personal property limit for its three locations. This critical thinking will help Thomas to
Correct Answer: C
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